N K hints at econ reform

looks like the dprk may be experimenting with Chinese style reforms.

The changes, which allow farmers to keep more of their crops and sell surpluses in the private market, are in the experimental stage and are easily reversible, analysts caution. But even skeptical North Korea watchers say that Kim’s emerging policies and style — and his frank acknowledgment of the country’s economic problems — hint at an economic opening similar to China’s in the late 1970s.

It's what all the cool kids are doing; just ask Myanmar.

I'll believe it when I see the results.

Seems like Lil Kim is modeling himself after his grandfather rather than his father, which is good for everyone.

looks like the dprk may be experimenting with Chinese style reforms.

Oh, god I am going to hell for this...

Does anyone else make the slip in that sentence where dprk is read as dork?

Good thing no one was writing about darpa...

It's a very small step and indeed easily reversable, but how does NK fare when it comes to economic potential? In other words: if they were to follow the same policy path as China, can they achieve similar results?

dejanzie wrote:

It's a very small step and indeed easily reversable, but how does NK fare when it comes to economic potential? In other words: if they were to follow the same policy path as China, can they achieve similar results?

Absolutely. If NK follows the China model (and not half-heartedly), then we would definitely see a flood of foreign capital into the country, particularly I think, from South Korea and China. Personally, I think NK is in a great position to take over for China as Asia's biggest manufacturer since labor costs are continuing to rise in China.

Grubber788 wrote:
dejanzie wrote:

It's a very small step and indeed easily reversable, but how does NK fare when it comes to economic potential? In other words: if they were to follow the same policy path as China, can they achieve similar results?

Absolutely. If NK follows the China model (and not half-heartedly), then we would definitely see a flood of foreign capital into the country, particularly I think, from South Korea and China. Personally, I think NK is in a great position to take over for China as Asia's biggest manufacturer since labor costs are continuing to rise in China.

Well, there already is a wealth of foreign investments in NK. I guess it all comes down to how cheap they want the NK labor cost to remain: less communism = higher labor costs. So both SK and China are not exactly fond of full-on reform of NK system I would say.

Grubber788 wrote:
dejanzie wrote:

It's a very small step and indeed easily reversable, but how does NK fare when it comes to economic potential? In other words: if they were to follow the same policy path as China, can they achieve similar results?

Absolutely. If NK follows the China model (and not half-heartedly), then we would definitely see a flood of foreign capital into the country, particularly I think, from South Korea and China. Personally, I think NK is in a great position to take over for China as Asia's biggest manufacturer since labor costs are continuing to rise in China.

except that there are only 12 million North Koreans.

Paleocon wrote:
Grubber788 wrote:
dejanzie wrote:

It's a very small step and indeed easily reversable, but how does NK fare when it comes to economic potential? In other words: if they were to follow the same policy path as China, can they achieve similar results?

Absolutely. If NK follows the China model (and not half-heartedly), then we would definitely see a flood of foreign capital into the country, particularly I think, from South Korea and China. Personally, I think NK is in a great position to take over for China as Asia's biggest manufacturer since labor costs are continuing to rise in China.

except that there are only 12 million North Koreans.

But no pesky middle class. It's pretty much all raw, uneducated labor. I don't think NK will dominate manufacturing--I was wrong to imply that--, but maybe it'll follow a Thai model and specialize in a niche market, like semi-cons or textiles.

Grubber788 wrote:
Paleocon wrote:
Grubber788 wrote:
dejanzie wrote:

It's a very small step and indeed easily reversable, but how does NK fare when it comes to economic potential? In other words: if they were to follow the same policy path as China, can they achieve similar results?

Absolutely. If NK follows the China model (and not half-heartedly), then we would definitely see a flood of foreign capital into the country, particularly I think, from South Korea and China. Personally, I think NK is in a great position to take over for China as Asia's biggest manufacturer since labor costs are continuing to rise in China.

except that there are only 12 million North Koreans.

But no pesky middle class. It's pretty much all raw, uneducated labor. I don't think NK will dominate manufacturing--I was wrong to imply that--, but maybe it'll follow a Thai model and specialize in a niche market, like semi-cons or textiles.

Or launch vehicles.

Paleocon wrote:
Grubber788 wrote:
dejanzie wrote:

It's a very small step and indeed easily reversable, but how does NK fare when it comes to economic potential? In other words: if they were to follow the same policy path as China, can they achieve similar results?

Absolutely. If NK follows the China model (and not half-heartedly), then we would definitely see a flood of foreign capital into the country, particularly I think, from South Korea and China. Personally, I think NK is in a great position to take over for China as Asia's biggest manufacturer since labor costs are continuing to rise in China.

except that there are only 12 million North Koreans.

According to the CIA world factbook there are 24.5 million.

goman wrote:
Paleocon wrote:
Grubber788 wrote:
dejanzie wrote:

It's a very small step and indeed easily reversable, but how does NK fare when it comes to economic potential? In other words: if they were to follow the same policy path as China, can they achieve similar results?

Absolutely. If NK follows the China model (and not half-heartedly), then we would definitely see a flood of foreign capital into the country, particularly I think, from South Korea and China. Personally, I think NK is in a great position to take over for China as Asia's biggest manufacturer since labor costs are continuing to rise in China.

except that there are only 12 million North Koreans.

According to the CIA world factbook there are 24.5 million.

but they're half the size of regular people

Paleocon wrote:
goman wrote:
Paleocon wrote:
Grubber788 wrote:
dejanzie wrote:

It's a very small step and indeed easily reversable, but how does NK fare when it comes to economic potential? In other words: if they were to follow the same policy path as China, can they achieve similar results?

Absolutely. If NK follows the China model (and not half-heartedly), then we would definitely see a flood of foreign capital into the country, particularly I think, from South Korea and China. Personally, I think NK is in a great position to take over for China as Asia's biggest manufacturer since labor costs are continuing to rise in China.

except that there are only 12 million North Koreans.

According to the CIA world factbook there are 24.5 million.

but they're half the size of regular people

Be interesting to know who's actually pushing this. Is it lil Kim III, unable to ignore the disparity between his country and every other democracy in the world, the Chinese, unwilling to suffer an economic time bomb at their border any longer, or some mixture of generals and senior bureaucrats who are tired of treating second-hand South Korean karaoke machines as luxury goods?

Could be D, all of the above.